7/102 sources · 2 publishersUpdated Oct 27, 08:19 UTC
Indian IT stocks tumble as Anthropic IPO filing sparks AI rally and Infosys trims FY2027 revenue outlook
On October 27 Indian IT shares, led by Infosys, TCS and Coforge, fell after Anthropic filed for an IPO and Meta announced a $95 billion equity raise, reviving AI‑related buying. Infosys also cut its fiscal‑2027 revenue growth guidance following stronger‑than‑expected third‑quarter results. The broader Nifty IT index slipped about 1.5% as semiconductor stocks rallied globally.
Why it matters
The drop signals renewed pressure on Indian IT earnings amid shifting AI spending, and Infosys' lower guidance suggests slower top‑line growth for the sector. Investors in INFY and other IT stocks may see near‑term price weakness.
Key facts
- 1Infosys fell 2.31% to Rs 1,139.05, the biggest loser in the NSE IT index. indiaipo.in
- 2TCS fell 2.09% and Coforge fell 1.66% in the same session. indiaipo.in
- 3Nifty IT index traded 1.5% lower at 31,796.8. tradingview.com
- 4Infosys cut its revenue growth guidance for fiscal 2027 after reporting higher‑than‑expected September‑quarter revenue. tradingview.com
- 5Anthropic’s IPO filing and Meta’s $95 billion share sale were cited as catalysts for the AI rally. indiaipo.in
Open questions
- Infosys percentage decline is reported as 2.31% and 1.58%.
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.